How Covid-19 is affecting the energy supply industry

We’ve already seen the impacts of the Coronavirus pandemic both in the UK and across the world. With so many people now working from home the pattern of electricity demand is changing shape and instead mirroring what we normally see in the UK at weekends. Globally there’ve been almost 750,000 confirmed cases of people being infected by the outbreak which originated in China, but it’s thought that’s only a fraction of the real number. The UK death toll has now reached 1,415.

Covid-19 is also having an impact on the sourcing and supply chain across the power network globally. The price of oil has dropped to its lowest level for 18 years, after the global demand for crude collapsed because of the Coronavirus pandemic. On Monday Brent Crude fell to $22.58 a barrel, which is the lowest it’s been since November 2002. Oil prices have not only been affected by the lack of demand caused by the global shutdown, but also because of the price war between Saudi Arabia and Russia that broke out earlier this month. The oil markets in both countries have become suppressed after production was increased following the dispute, leading to a surplus.

Refineries across the world are processing less crude oil following the fall in demand caused by countries bringing in tougher measures everyday to tackle the outbreak. The reduction in travel, with less planes in the skies and cars on the road, is having a particularly significant impact. Easyjet is the latest airline to ground its entire fleet of planes because of the “unprecedented travel restrictions” imposed by governments across the world. Virgin Atlantic has already suggested that it will ask for a bailout, and several other airlines are expected to need similar measures.

England’s Deputy Chief Medical Officer, Jenny Harries, says it could be six months before things get back to normal in Britain, but OFGEM, the government regulator for gas and electricity markets in Great Britain, says the “energy supply won’t be disrupted”. At Clifford Talbot Partnership we are taking the situation very seriously and ensuring every step is being taken to protect both our staff and their families, as well as continuing to provide the best possible service to our clients. Industry body the Energy Networks Association says “Britain has one of the most reliable networks in the world” and that there are well practised contingency plans in place to make sure there is a reliable supply of energy across the country.

At CTP it’s business as usual, despite most of our staff working from home we are always on hand to answer any questions you may have, and will continue to provide top class service throughout the Coronavirus lockdown. If you have any questions on how your energy supply may be affected, please do not hesitate to get in touch with us. You can contact your Account Manager directly, call owner Steve Clifford on 07929 345764 for any new enquiries, or contact us here

For the latest information on Coronavirus cases globally check out https://www.worldometers.info/coronavirus/#page-top

To find out more about the symptoms and health advice visit the NHS website https://www.nhs.uk/conditions/coronavirus-covid-19/

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Steve Clifford is Owner of Clifford Talbot Partnership which was formed in 1984 to provide solutions to energy and utility management issues in commerce, industry, government and the public sectors throughout the UK.